An annual assessment of the Charlotte area’s housing market shows that supply is catching up with demand, prices are moderating, but finding affordable homes remains a major challenge. And the region’s growth is off the charts.
For the seventh year, UNC Charlotte’s Childress Klein Center for Real Estate published the State of Housing in Charlotte report, taking a research-informed look at housing issues.
“Rapid growth inevitably leads to persistent and strong demand for housing,” said Childress Klein Distinguished Professor of Real Estate and Urban Economics Yongqiang Chu, the study’s primary author. “The good news for the Charlotte region is that the supply was catching up with the demand in 2024.”
Here were the report’s key findings:
*The Charlotte Metropolitan Statistical area grew by 78,255 people, or 2.8%, from 2023 to 2024, the highest growth rate since 2014.
* The median home price in the Charlotte market increased 3.2% to $443,850, versus about $430,000 a year earlier. Median means that half of the homes were sold above that level, and half were sold below.
* The Charlotte Metropolitan Statistical Area added 28,951 housing units in 2024, which was about 4,100 more units than the increase in households (24,837). A similar trend occurred in 2023.
* The median days-on-market increased from 19 days in September 2024 to 27 days in September 2025, signaling a less frenzied market.
* Only 1.9% of houses were sold for less than $150,000, while 17.8% traded for less than $300,000. That compares with 2021, when nearly 5% of homes sold for less than $150,000 and about 36% sold for less than $300,000.
* It would take a family income of $146,280 to afford a median-priced house in 2025. That compares with about $138,000 a year earlier.
* Apartment effective rents decreased from $1,591 in 2022 to $1,566 in 2025, after a record number of property openings. The Charlotte region added a record 19,754 apartment units in the year ending Sept. 30.
David Mildenberg is editor of Business North Carolina. Reach him at dmildenberg@businessnc.com.